122,150 Shares in Newell Brands Inc. (NASDAQ:NWL) Bought by Neo Ivy Capital Management

Key Points

• Neo Ivy Capital Management has acquired 122,150 shares of Newell Brands Inc., valued at approximately $757,000, reflecting a growing interest from institutional investors.
• Newell Brands reported earnings of ($0.01) EPS for the quarter, exceeding estimates, but its revenue fell by 5.3% year-over-year.
• The company's stock recently saw a price target adjustment with Barclays raising it from $8.00 to $9.00 while other analysts maintain a generally "Hold" rating with an average target of $7.94.

Neo Ivy Capital Management acquired a new position in Newell Brands Inc. (NASDAQ:NWL - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 122,150 shares of the company's stock, valued at approximately $757,000.

Other hedge funds have also modified their holdings of the company. FMR LLC increased its stake in Newell Brands by 233.6% in the 4th quarter. FMR LLC now owns 14,527,609 shares of the company's stock worth $144,695,000 after buying an additional 10,172,696 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Newell Brands by 25.8% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 20,846,692 shares of the company's stock worth $129,249,000 after acquiring an additional 4,273,541 shares in the last quarter. Norges Bank purchased a new position in shares of Newell Brands during the fourth quarter worth approximately $37,174,000. Dimensional Fund Advisors LP boosted its holdings in shares of Newell Brands by 21.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 18,089,297 shares of the company's stock valued at $180,172,000 after purchasing an additional 3,188,718 shares during the period. Finally, FIL Ltd boosted its holdings in shares of Newell Brands by 109.2% in the fourth quarter. FIL Ltd now owns 5,720,884 shares of the company's stock valued at $56,980,000 after purchasing an additional 2,986,426 shares during the period. 92.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the company. Truist Financial reduced their price objective on Newell Brands from $17.00 to $8.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Canaccord Genuity Group decreased their price objective on Newell Brands from $12.00 to $11.00 and set a "buy" rating for the company in a report on Thursday, May 1st. UBS Group increased their target price on shares of Newell Brands from $5.00 to $5.50 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Wall Street Zen raised shares of Newell Brands from a "sell" rating to a "hold" rating in a research report on Sunday, May 4th. Finally, Barclays boosted their price objective on shares of Newell Brands from $8.00 to $9.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $7.81.

Newell Brands Stock Down 2.3%

NWL traded down $0.14 during trading on Wednesday, hitting $5.82. The stock had a trading volume of 1,239,528 shares, compared to its average volume of 9,000,657. The stock has a 50 day simple moving average of $5.60 and a two-hundred day simple moving average of $6.36. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.54 and a current ratio of 1.13. Newell Brands Inc. has a twelve month low of $4.22 and a twelve month high of $11.78. The company has a market capitalization of $2.43 billion, a PE ratio of -9.86 and a beta of 0.96.

Newell Brands (NASDAQ:NWL - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.06. Newell Brands had a positive return on equity of 9.95% and a negative net margin of 3.26%. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.54 billion. The firm's revenue for the quarter was down 5.3% on a year-over-year basis. On average, research analysts predict that Newell Brands Inc. will post 0.72 earnings per share for the current year.

Newell Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 4.82%. The ex-dividend date of this dividend was Friday, May 30th. Newell Brands's payout ratio is currently -47.46%.

About Newell Brands

Newell Brands Inc engages in the design, manufacture, sourcing, and distribution of consumer and commercial products worldwide. The company operates in three segments: Home and Commercial Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solution products under the Rubbermaid, Rubbermaid Commercial Products, Mapa, and Spontex brands; closet and garage organization products; hygiene systems and material handling solutions; household products, such as kitchen appliances under the Crockpot, Mr.